Jager Building Systems Inc. ("Jager")

Receivership Information

Page last updated: February 2, 2012

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.


Status of File as at February 2, 2012

  • On January 31, 2012, the Court issued an Order:
    • approving the activities of the Receiver as set out in the Third, Fourth, Fifth and Sixth Reports;
    • approving the Receiver’s final statement of receipts and disbursements;
    • approving the Receiver’s fees and disbursements and those of its legal counsels;
    • authorizing payment of the monies remaining to HSBC subject to the holdback for completion of the file;
    • authorizing destruction and/or disposal of the Company’s books and records;
    • discharging the Receiver subject to the completion of its duties; and
    • declaring that the Receiver is released and discharged from any and all liability.

Status of File as at December 6, 2011

  • On November 25, 2011, the Receiver prepared its Fifth Report seeking the Court's approval to (i) sell Lots 6C and 6E to 1572194 Alberta Inc.; and (ii) approve the activities of the Receiver since its previous report. On December 5, 2011 the motion was heard and the Court granted an order approving the relief sought.

Status of File as at November 25, 2011

  • On November 25, 2011, the Receiver prepared its Fifth Report seeking the Court's approval to (i) sell Lots 6C and 6E to 1572194 Alberta Inc.; and (ii) approve the activities of the Receiver since its previous report. The Application is scheduled to be heard on December 5, 2011 at 11:00 AM.
  • On February 11, 2011, the Receiver prepared its Fourth Report seeking the Court's approval to (i) sell Lots 6A and 6F to 1572194 Alberta Inc.; and (ii) approve the activities of the Receiver since its previous report. On February 15, 2011 the motion was heard and the Court granted an order approving the relief sought.
  • On September 20, 2010, the Receiver prepared its Third Report seeking the Court's approval to (i) Grant recognition of the Amended Receivership Order in Alberta to facilitate the pending sales of real property in Alberta; (ii) Grant recognition of the Distribution Order; and, (iii) Approve the sale of the Lot 6B to Premise. On September 30, 2010 the motion was heard and the Court granted an order approving the relief sought.

Status of File as at January 19, 2010

  • On January 4, 2010, the Receiver prepared its Second Report seeking the Court's approval to (i) sell the Bolton Property to Verdi Alliance; (ii) approve the activities of the Receiver as described in the Second Report; and, (iii) approve the fees and disbursements of the Receiver and that of its legal counsel, Fasken Martineau DuMoulin LLP. On January 15, 2010 the motion was heard and the Court granted an order approving the relief sought.
  • [Mar 30, 2009]
    On March 17, 2009, the Receiver prepared its First Report seeking the Court's approval to distribute the amount of $9,000,000 to HSBC Bank Canada ("HSBC") on account of the secured indebtedness owing to HSBC by Jager; (ii) authorize the Receiver to distribute further amounts to HSBC without further notice, up to the total amount owing to HSBC by Jager; (iii) approve the activities of the Receiver as described in the First Report; and, (iv) approve the fees and disbursements of the Receiver and that of its legal counsel, Fasken Martineau DuMoulin LLP. On March 26, 2009 the motion was heard and the Court granted an order approving the relief sought.
  • [Oct 10, 2008]
    On October 8, 2008, the Court granted an Amended Receivership Order to include Jager Building Systems (U.S.) Inc. in the receivership.
  • [Sept 15, 2008]
    On September 15, 2008, on the application of Jager Building Systems Inc. ("Jager"), an Order was granted by the Ontario Superior Court of Justice (Commercial List)(the "Court"), pursuant to section 47 (1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c, B-3, as amended (the "BIA") and section 101 of the Courts of Justice Act, R.S.O. 1990 c, C.43, as amended (the "CJA"), that, among other things;

    • appointed PricewaterhouseCoopers Inc. as interim receiver and receiver and manager (the "Receiver") of all of the assets, undertakings and properties of Jager Building Systems Inc. (the "Debtor"); and
    • authorized borrowing by the Receiver of up to $2,000,000.

    In accordance with the provisions of the BIA, the Receiver's notice and statement will be issued shortly.

This Web site will be updated as information becomes available.


Court Orders:
 

172 KB Discharge Order and Endorsement of Justice Morawetz, dated January 31, 2012
172 KB Approval and Vesting Order re: sale of Calgary Lot 6C and 6E, dated December 5, 2011
172 KB Approval and Vesting Order re: sale of Calgary Lot 6A and 6F, dated February 15, 2011
172 KB Approval and Vesting Order re: sale of Calgary Lot 6B, dated September 30, 2010
172 KB Approval and Vesting Order re: sale of property in Bolton, Ontario, dated January 15, 2010
172 KB Administrative Order re: approval of Receiver's activities and fees, dated January 15, 2010
172 KB Order, dated March 26, 2009.
172 KB Amended Receivership Order, dated October 8, 2008.
172 KB Endorsement to Amended Receivership Order
172 KB Motion Adjournment to October 10, 2008
172 KB Receivership Order, dated September 15, 2008.


 


Receiver's Reports:
 

172 KB Sixth Report of the Receiver, dated January 18, 2012. Please contact the Receiver if you wish to obtain copies of the Appendices.
172 KB Fifth Report of the Receiver (without appendices), dated November 25, 2011. Please contact Receiver if you wish to obtain copies of the Appendices.
172 KB Fourth Report of the Receiver (without appendices), dated February 11, 2011. Please contact Receiver if you wish to obtain copies of the Appendices.
172 KB Third Report of the Receiver (without appendices), dated September 20, 2010. Please contact Receiver if you wish to obtain copies of the Appendices.
172 KB Second Report of the Receiver (without appendices), dated January 4, 2010. Please contact Receiver if you wish to obtain copies of the Appendices.
172 KB First Report of the Receiver, dated March 17, 2009.


 


Motion Materials:
 

172 KB Notice of Motion, returnable March 26, 2009.
172 KB Application Record (Part 1), returnable September 15, 2008.
172 KB Application Record (Part 2), returnable September 15, 2008.


Notices and Statements of the Receiver:
 

172 KB Receiver's Notice, dated May 18, 2011.
172 KB Receiver's Notice, dated October 29, 2010.
172 KB Receiver's Notice, dated October 02, 2009.
172 KB Receiver's Notice, dated May 13, 2010.
172 KB Receiver's Notice, dated April 28, 2009.
172 KB Receiver's Notice, dated September 22, 2008.


 


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